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OneLife Network News

Exchange weekly summary 3

Week 3

IT development

Testing - the deposit function OLN -> Exchange is running smoothly;

Currently withdrawals can be send successfully, errors has been fixed.

Ongoing parallell work towards the stabilizing of the synchronization between blockchain and back office;

Ongoing parallell work towards building a stable connection between exchange and the old DealShaker.

Liquidity account - finalized.

Licensing and IT audit

The IT committee has finalized an operational report with comments on their side which are as follows;

- CB needs to know where the pricing of Reuters, Bloomberg, Netdania or any other exchange interface is coming from and there is an authorization. They want to know how the pricing is formed technically otherwise we should connect with CB pricing. The provided explanation is that the price for a crypto coin/ fiat currency to another is determined just as it is on all other exchange, namely by the price of the last trade on the market. For all currency pairs that have no market - choosing data source Crypto to USD, Crypto to Crypto: COINMARKETCAP; Fiat to Fiat: Fixer.

- Proposals for fees are provided to the CB as the basis of the buy margin which is the average margin of the bying rate of several banks. The margins are adjusted by 50% to be at pair with the local money changers in the country of the license.

- Payment gateway determined as compulsory before starting - still no response from CB about which payment gateway they recommend.

- IT committee will prepare another report regarding coins and tokens during the upcoming week.

Compliance

Request for how to operate sent to Tyrkey, New Zealand, UK; pending further information.


Link >>


DEALSHAKER UPDATE

Dear all,

Please be informed that due to recent technical issues the New DealShaker should no longer be used. All merchants should transfer their deals back to the old DealShaker which is currently being upgraded by our IT Team. We are sorry for the inconvenience! Stay tuned for further updates regarding the DealShaker platform.

Best regards,
The Team

DealShaker update



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